Is that what explains all the people out of work with no jobs where I live? Maybe you could loan us some of your illegals when they aren’t cutting your grass?

quote:

Originally posted by bluefish:
Is that what explains all the people out of work with no jobs where I live? Maybe you could loan us some of your illegals when they aren’t cutting your grass?

Eat shit asshat. You can keep repeating your lies but the numbers are what they are.

Another paywall article. Whatever. I had a ringside seat watching a new graduate look for a "help desk" job earlier last year. Heh...

This article isn't paywall:

https://www.msn.com/en-us/mone...7db35cd3288e53&ei=38

U.S. economy booms with 3.3% growth in final quarter of 2023
Story by Courtenay Brown • 1h

If you devalue your currency enough, inflation will mimic a growing economy. If companies hire three part-time workers instead of fulltime workers, the number of jobs will increase. Governments of both parties have learned to spin this well. Regards, Bill

quote:

Originally posted by bluefish:
Is that what explains all the people out of work with no jobs where I live? Maybe you could loan us some of your illegals when they aren’t cutting your grass?

Of course it's not uniform throughout the country just like global warming and climate change aren't uniform. On the whole however the economy seems to be doing well. It isn't fine for everybody, but then again it never was and probably never will be. The poor were poor under trump and will remain poor if he should get re-elected.

https://www.msn.com/en-us/news...a17be312d9e12&ei=102

Donald Trump’s Economic Populism Remains Extremely Fake
Story by Jonathan Chait • 4h

quote:

Originally posted by TomP:
Another paywall article. Whatever. I had a ringside seat watching a new graduate look for a "help desk" job earlier last year. Heh...

Sorry, here you go.

>>>>>The U.S. economy boomed in 2023, thanks to consumers opening up wallets
New GDP figures show strong growth at the end of last year

By Abha Bhattarai

Updated January 25, 2024 at 10:42 a.m. EST|Published January 25, 2024 at 6:00 a.m. EST

The U.S. economy grew by a bustling 3.1 percent in 2023, shaking off recession fears and offering an upbeat picture of consumers and businesses ahead of a pivotal election year.

GDP grew even faster than many had anticipated in the last three months of the year — by an annual rate of 3.3 percent, according to the Bureau of Economic Analysis — offering fresh evidence that federal policymakers have managed to bring down inflation and secure a “soft landing” without major repercussions for workers or the economy.


“It’s just a perfect report: Strong growth and low inflation,” said Mark Zandi, chief economist at Moody’s Analytics. “Everything contributed to growth: Consumers, businesses, government, housing, trade, inventories. All of the economic wheels were moving in the same direction.”


The economy’s resilience has been driven by vigorous consumer spending. A strong job market and rising wages have made it possible for many households to keep shelling out — particularly on services such as hotels, travel and dining out — even at a time of elevated inflation.


That spending by everyday Americans accounted for most of the economy’s growth in the fourth quarter. Increased government spending, at the state, local and federal levels, as well as higher exports and more private and residential investments also lifted the latest GDP reading, which sums up the goods and services produced in the U.S. economy.

The economic growth figures are a political boost for President Biden, as every year of his term has seen GDP growth, despite some struggling quarters. Last year’s 3.3 percent expansion tops GDP growth in every year of President Donald Trump’s term, including 2019, when the economy grew by 2.95 percent.

“Whichever way you slice it, this report caps a year of stellar economic growth performance,” Olu Sonola, head of U.S. regional economics at Fitch Ratings, wrote in an analyst note Thursday. “The momentum of economic growth going into 2024 is looking very good.”

It is unlikely, though, this pace of growth can continue. Economic expansion is expected to slow this year, as higher borrowing costs take their toll on spending by households and businesses. There are other risks on the horizon, too: Consumers are taking on more debt to fund their spending, and businesses likely have too much inventory on hand. Geopolitical risks, including conflict in the Middle East, are also a looming threat to the global economy.

For now, strong economic growth has distinguished the United States from its peers. Europe and Britain are on the verge of recession, and China — the world’s second-largest economy — is on slippery footing. Overall, economic growth in advanced economies is expected to slow this year, to 1.4 percent, according to the International Monetary Fund.

Government policy played an important role in supporting the economy last year. The Biden administration’s efforts to fund new infrastructure and clean energy projects have created new jobs and spurred $640 billion in private investments around the country.

Despite the economy’s strong rebound from the pandemic-inflicted recession, Biden has struggled to convince voters that his policies are making their lives better. Higher prices, particularly on essentials such as food, housing and utilities, have clouded Americans’ views on the economy, with inflation routinely topping the list of voters’ biggest concerns.

The economy is widely expected to continue slowing in 2024, after two years of torrid post-pandemic expansion. (GDP grew by 5.95 percent in 2021 and 2.06 percent in 2022.) Although some economists still expect a mild recession this year, many appear optimistic that the economy can stabilize without major job losses or a protracted downturn.

“We are coming down to more sustainable levels, both in the economy and in the job market,” said Satyam Panday, chief U.S. economist at S&P Global Ratings. “We expect a controlled, steady slowdown, not a recession.”


The Federal Reserve has aggressively raised interest rates since last year in a bid to slow the economy enough to bring down inflation. Although its efforts are working — prices are up 3.4 percent from a year ago, down from a peak of 9.1 percent in June 2022 — many Americans are still reeling from sticker shock at grocery stores and gas pumps, where costs remain elevated from pre-pandemic levels.

Still, there are signs that Americans are slowly starting to feel better about the economy as inflation eases. The consumer confidence level picked up in November and December. It is unclear, though, whether that will translate to political points for the White House.

Anthony Reilly, who owns a barber shop in Philadelphia, says business has gradually slowed in recent months as clients rethink their spending. The usual holiday boom, which begins just before Thanksgiving, wasn’t quite as dramatic this time around. January, too, is shaping up to be slower than usual.


“It feels like things are a little more up in the air, like everyone is starting to tighten their purse strings,” he said. “It’s not scary-dead, but also not crazy busy like it used to be.”

Bookings at Flowertown Bed and Breakfast in Summerville, S.C., are up across the board: More guests are staying overnight, and demand for weddings, baby showers and other events is higher than it has been in years.

“I’ve been surprised at just how steady things have been,” owner Carol Grant said. “I’m at the grocery store every other day, and the prices are just atrocious, but people are still spending. There hasn’t been any kind of slowing.”

quote:

Originally posted by Bill Leeper:
If you devalue your currency enough, inflation will mimic a growing economy. If companies hire three part-time workers instead of fulltime workers, the number of jobs will increase. Governments of both parties have learned to spin this well. Regards, Bill

I don't think The Bureau of Economic Analysis is partisan.

Unemployment rate is lowest in decades.

Say what you like but the numbers don't lie.

Our Chicken Little republicans have had the sky falling for 3 years & counting.

quote:

Originally posted by Bill Leeper:
If you devalue your currency enough, inflation will mimic a growing economy. If companies hire three part-time workers instead of fulltime workers, the number of jobs will increase. Governments of both parties have learned to spin this well. Regards, Bill

It would appear that the U.S. dollar has seen less volatility over the last year than the Canadian dollar has, but keep trying.

quote:

Originally posted by Mike Mitchell:

quote:

Originally posted by Bill Leeper:
If you devalue your currency enough, inflation will mimic a growing economy. If companies hire three part-time workers instead of fulltime workers, the number of jobs will increase. Governments of both parties have learned to spin this well. Regards, Bill

I don't think The Bureau of Economic Analysis is partisan.

Unemployment rate is lowest in decades.

Say what you like but the numbers don't lie.

The chronically unemployed or those not eligible for unemployment benefits don't count. Part time workers, though they can't live on their earnings, are employed. I am not partisan either. I think we, as a society, continue to waste time on partisan bullshit rather than address real issues; issues caused by our steadfast adherence to dogma. Regards, Bill

quote:

Originally posted by Jefffive:

quote:

Originally posted by Bill Leeper:
If you devalue your currency enough, inflation will mimic a growing economy. If companies hire three part-time workers instead of fulltime workers, the number of jobs will increase. Governments of both parties have learned to spin this well. Regards, Bill

It would appear that the U.S. dollar has seen less volatility over the last year than the Canadian dollar has, but keep trying.

The Canadian dollar, harnessed as it is to the US dollar flucuates much the same.However, in an attempt to maintain an advantageous balance of trade with her largest trading partner, Canadian business deliberately depresses the value of the Canadian dollar. This strategy really became popular in the late 1970's. Canadian governments realized they could simulate economic growth by manipulation of currency. This was better than actually trying to increase real economic performance by increasing production. About this time, Canada and the US decided, to hell with it, let's create jobs in China instead and ramp up the spin doctors to keep everyone happy.
Canadian economic policy produces nearly as much vacuum as does U.S. policy; maybe more. Our big advantage is that we have a true fiscal conservative waiting to take over. Whether or not he will be able to repair the damage which has been done by the free spending liberals remains to be seen. The US, in 2024, will be choosing between two deficit spenders. Of course, in both cases the demented old fools are only figureheads. Regards, Bill.

Mike,

I'm confused. Yes, the stockmarket is doing great, inexplicably. But that means that rich folks are benefitting, and from your perspective, that's bad, right? Poor folks should do good from your perspective, right? But they can't get jobs because of all of the illegal aliens pouring across the border due to liberal, socialist policies by this administration.

Explain to me what your position is in a consistent manner.

quote:

Originally posted by lavaca:
Mike,

I'm confused. Yes, the stockmarket is doing great, inexplicably. But that means that rich folks are benefitting, and from your perspective, that's bad, right? Poor folks should do good from your perspective, right? But they can't get jobs because of all of the illegal aliens pouring across the border due to liberal, socialist policies by this administration.

Explain to me what your position is in a consistent manner.

Under Biden, everybody is doing better...

Link

You have to be kidding.

quote:

Originally posted by lavaca:
You have to be kidding.

Cling to your delusions, by nearly every metric the economy is the best it's been in a long time, after digging out of the deep hole Trump left it in.

Is that why my dollar buys significantly less these days?

quote:

Originally posted by lavaca:
Mike,

I'm confused. Yes, the stockmarket is doing great, inexplicably. But that means that rich folks are benefitting, and from your perspective, that's bad, right? Poor folks should do good from your perspective, right? But they can't get jobs because of all of the illegal aliens pouring across the border due to liberal, socialist policies by this administration.

Explain to me what your position is in a consistent manner.

I'll be the first to say that economics is a mystery to me so I just follow the experts.

I don't think that the stock market is the only metric that the Bureau of Economic Analysis relies on in evaluating the health of the US economy, is it? Unemployment, the stock market, investment, international trade and most importantly, gross domestic product.

Inflation is the reason all of you folks claim the economy sucks and that is somehow Biden's fault. I get that. Most Americans don't give a shit about the GDP. they care about what their dollar is getting them at the grocery store. But, the economic reality is that as the economy grows, people and entities spend more money on goods and services. And, when demand outstrips supply, producers of goods raise their prices. At least that's my understanding of how it works based on the economic theory I've been exposed to. So, it's Biden's fault that business wants to maximize profits based on current economic conditions? How so? I thought that was called capitalism.

As for the argument that undocumented workers are taking jobs from Americans....as I have stated many times here before, there is one excellent solution to that problem that you republicans never seem to advocate: arrest and fine those that give them jobs. Logistically, it is much more doable than trying to cover 2,000 miles of border. And, it solves the problem. The migrants come for work...no other reason. No work. No immigrants.

Finally, I guess I'd say this: I'm sure you're a trumptard. Explain to me how your boy blowing up the latest immigration discussions in order to deny President Biden a legislative success squares with the idea that the government needs to be doing more to prevent illegal immigration? The Dems and the GOP were working towards a successful deal until trump passed the word to the GOP to shitcan the discussions for purely political reasons designed to benefit trump. You good with that?

Explain your position to me in a consistent manner.

quote:

The Dems and the GOP were working towards a successful deal

The fallacy here is that there was NO deal being discussed that ever had a snowball’s chance in hell of ever passing the House.

The House wants the US Gvt to stop entrance first…talk about other things second. That was not in the Senate discussion.

quote:

people and entities spend more money on goods and services.

The economy through COVID has been good to me…I cannot deny.

But, just for grins…check the level of credit card debt right now.

I don’t really understand the economy over the last few years either…in our industry, it is driven by a factor never entered into the equation before and we are still solving for that variable.

quote:

Originally posted by ledvm:

quote:

The Dems and the GOP were working towards a successful deal

The fallacy here is that there was NO deal being discussed that ever had a snowball’s chance in hell of ever passing the House.

The House wants the US Gvt to stop entrance first…talk about other things second. That was not in the Senate discussion.

quote:

people and entities spend more money on goods and services.

The economy through COVID has been good to me…I cannot deny.

But, just for grins…check the level of credit card debt right now.

I don’t really understand the economy over the last few years either…in our industry, it is driven by a factor never entered into the equation before and we are still solving for that variable.

You don't know that to be true. Certainly correct among the looney-tune House republicans you support...MTG and her ilk. Those morons are never going to vote for any kind of an immigration bill. They like the current situation and are happy to stick with it, it gives them a talking point. That's how perverse the GOP has become.

And, I find it interesting that you talk about how well you are doing economically under the Biden administration. Says volumes.

quote:

Originally posted by Mike Mitchell:

quote:

Originally posted by bluefish:
Is that what explains all the people out of work with no jobs where I live? Maybe you could loan us some of your illegals when they aren’t cutting your grass?

Eat shit asshat. You can keep repeating your lies but the numbers are what they are.

He hasn't said exactly where he lives, but I can tell you that there are areas up there that are pretty bleak for employment opportunities.

Our economy is somewhat bifurcated, half is dong ok, half is not. Anyone competing in the low-skill marketplace is lucky to eat under a roof.

thousands and thousands of high paying techie jobs being laid off -- yeah, the water's "fine"

Not sure why someone would waste their time trying to argue that the economy is not doing well. Inflation is coming down. Unemployment has held steady under 4% for several years. Dow, Nasdaq and SP500 are at or near record levels. GDP continues to grow. Complain about the border, sure. But complaining about the economy rings pretty hollow when one takes a macro view.

quote:

And, I find it interesting that you talk about how well you are doing economically under the Biden administration. Says volumes.

I wouldn’t read too much into that…I have done well under many administrations and even through hard times. Our companies even faired well through the 2009-2010 era.

My comment has more to do with the unknown factor of why in this situation. The COVID era added a zero to the worth of all horses backed now by 10s of 1000s of actual cash sales. What I don’t understand fully is where did the cash come from.

Is inflation less than the increase in wages?

If not, then it’s not doing well to the average citizen.

If inflation is higher than the growth of the GDP, it is, by definition, a deflationary cycle.

Is the market up? Yes.

Is the market up from its prior high water mark such that you are having an increase in value when you take into account compounding interest and inflation? I doubt it.

Sure, if you make money on the margins you are doing well. Most of us are wage slaves. I don’t know too many non executive wage earners who think they are doing better.

quote:

Originally posted by ledvm:

quote:

And, I find it interesting that you talk about how well you are doing economically under the Biden administration. Says volumes.

I wouldn’t read too much into that…I have done well under many administrations and even through hard times. Our companies even faired well through the 2009-2010 era.

My comment has more to do with the unknown factor of why in this situation. The COVID era added a zero to the worth of all horses backed now by 10s of 1000s of actual cash sales. What I don’t understand fully is where did the cash come from.

Lane, you run your mouth about how successful you are all the time on here. Including the time period since President Biden was elected. You crying about the economy is bullshit.

quote:

Originally posted by Mike Mitchell:

quote:

Originally posted by ledvm:

quote:

And, I find it interesting that you talk about how well you are doing economically under the Biden administration. Says volumes.

I wouldn’t read too much into that…I have done well under many administrations and even through hard times. Our companies even faired well through the 2009-2010 era.

My comment has more to do with the unknown factor of why in this situation. The COVID era added a zero to the worth of all horses backed now by 10s of 1000s of actual cash sales. What I don’t understand fully is where did the cash come from.

Lane, you run your mouth about how successful you are all the time on here. Including the time period since President Biden was elected. You crying about the economy is bullshit.

When the talking points get distributed they must be broadcast, no matter how little they reflect reality.

quote:

Originally posted by Mike Mitchell:

quote:

Originally posted by ledvm:

quote:

And, I find it interesting that you talk about how well you are doing economically under the Biden administration. Says volumes.

I wouldn’t read too much into that…I have done well under many administrations and even through hard times. Our companies even faired well through the 2009-2010 era.

My comment has more to do with the unknown factor of why in this situation. The COVID era added a zero to the worth of all horses backed now by 10s of 1000s of actual cash sales. What I don’t understand fully is where did the cash come from.

Lane, you run your mouth about how successful you are all the time on here. Including the time period since President Biden was elected. You crying about the economy is bullshit.

Man, you can’t take yes for an answer. I was basically agreeing with you that the economy was “seemingly” stronger than expected earlier.

I believe the economy grew on the pent up hunger that welled up during COVID. It seems to be built on credit from lower half and phony money distributed to the wealthier in “programs.”

The raising of interest rates is also good for companies who can operate on their own cash as it allows us to invest with our cash flow within a fiscal year and compound our profit by making money just for the possession of cash.

Thus like always the rich get richer and the poor get poorer. Adversity provides opportunity and the well positioned do quite well in adversity.

All that said…I grew up poor. A lot of my friends and family live paycheck to paycheck and they are struggling in this economy with the inflation. I fight for the principles that provided the American dream to me…for them.

quote:

Originally posted by Jefffive:

quote:

Originally posted by Mike Mitchell:

quote:

Originally posted by ledvm:

quote:

And, I find it interesting that you talk about how well you are doing economically under the Biden administration. Says volumes.

I wouldn’t read too much into that…I have done well under many administrations and even through hard times. Our companies even faired well through the 2009-2010 era.

My comment has more to do with the unknown factor of why in this situation. The COVID era added a zero to the worth of all horses backed now by 10s of 1000s of actual cash sales. What I don’t understand fully is where did the cash come from.

Lane, you run your mouth about how successful you are all the time on here. Including the time period since President Biden was elected. You crying about the economy is bullshit.

When the talking points get distributed they must be broadcast, no matter how little they reflect reality.

That is certainly true for you! You show up on election years and spew propaganda.

After this cycle, I doubt anyone disagrees that you are a paid political troll.